CAMDEN, N.J.–(BUSINESS WIRE)–Sept. 23, 2004–Campbell Soup
Company (NYSE:CPB) announced today that Harvey Golub has been elected
by the Board of Directors to succeed George M. Sherman as Chairman of
the Board, effective November 19. Golub, 65, has been a director of
Campbell since 1996. From 1993 to 2001, he was Chairman and Chief
Executive Officer of American Express Company, which he joined in 1984
as President and Chief Executive Officer of IDS Financial Services,
now known as American Express Financial Advisors. Prior to joining
American Express, Golub was a senior partner at McKinsey & Co.
Currently, he also serves as a director of Dow Jones & Co. and chair
of TH Lee Putnam Ventures, a $1.1 billion private equity fund.

Sherman, 63, was formerly President and Chief Executive Officer of
Danaher Corporation. He joined the Campbell Board in 1995 and became
Chairman in 2001. He will retire from the Board on November 18 in
order to focus on and devote more time to private equity.

The company also announced that John F. Brock, 56, Chief Executive
Officer of InBev, has been nominated for election to the Board of
Directors at the company’s annual meeting of shareowners on November
18. With Brock’s election, the Board will continue to be composed of
16 members. Brock began his career at Procter and Gamble and spent 20
years at Cadbury Schweppes PLC, where he led the North American and
European beverage operations and later served as the company’s Chief
Operating Officer. In 2003 Brock was named Chief Executive Officer of
Interbrew, a premier brewer, headquartered in Brussels, Belgium.
Interbrew recently combined with AmBev, the leading brewer in Latin
America, to form InBev, the world’s largest brewer by volume. Brock
was identified and recruited for the Campbell Board by Korn/Ferry
International.

Commenting on Golub’s election, Sherman said, “Harvey’s success as
Chairman and CEO of American Express, and his outstanding
contributions as a director and as chair of the Compensation and
Organization Committee of the Campbell Board, make him an ideal
choice. He will provide strong leadership to the Board as Doug Conant
and his management team continue to build the business.”

Golub commented, “I look forward to leading the Campbell Board and
to continue working with Doug Conant and his team. Campbell is a great
company with strong brands and quality products. The company has made
significant investments for the future and is well positioned for
success.” Golub added, “I am also very pleased by John Brock’s
nomination to join our Board. His strong international perspective and
valuable experience in consumer products will be an asset to
Campbell.”

Doug Conant, President and Chief Executive Officer, added, “We are
grateful for George Sherman’s leadership and wise counsel during the
past several years. He consistently challenged our management team to
set the bar higher as we worked to transform Campbell. In that same
spirit, as a director, Harvey Golub has been a valuable advisor in the
development of a strong strategic direction for our company. I look
forward to working more closely with Harvey, taking full advantage of
his extensive experience as we drive Campbell’s performance and build
shareowner value.”

Forward Looking Statements

This release contains “forward-looking statements” which reflect
the company’s current expectations about its future plans and
performance. These forward-looking statements rely on a number of
assumptions and estimates which could be inaccurate and which are
subject to risks and uncertainties. Actual results could vary
materially from those anticipated or expressed in any forward-looking
statement made by the company. Please refer to the company’s most
recent Form 10-K and subsequent filings for a further discussion of
these risks and uncertainties. The company disclaims any obligation or
intent to update the forward-looking statements in order to reflect
events or circumstances after the date of this release.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of
high quality soup, sauce, beverage, biscuit, confectionery and
prepared food products. The Company is 135 years old, with over $7
billion in annual sales and a portfolio of more than 20 market-leading
brands. For more information on the company, visit Campbell’s website
on the Internet at www.campbellsoup.com.

    CONTACT: Campbell Soup Company
             Media:
             Jerry S. Buckley, 856-342-6007
                 or
             Analysts:
             Leonard F. Griehs, 856-342-6428

    SOURCE: Campbell Soup Company

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